Live Nation Entertainment, Inc. (NYSE:LYV) Shares Purchased by Rhumbline Advisers

Rhumbline Advisers increased its position in shares of Live Nation Entertainment, Inc. (NYSE:LYV - Free Report) by 7.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 311,160 shares of the company's stock after purchasing an additional 21,966 shares during the quarter. Rhumbline Advisers owned 0.13% of Live Nation Entertainment worth $40,631,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of LYV. Independent Franchise Partners LLP lifted its holdings in shares of Live Nation Entertainment by 207.6% during the fourth quarter. Independent Franchise Partners LLP now owns 4,693,986 shares of the company's stock worth $607,871,000 after purchasing an additional 3,168,210 shares during the period. Groupama Asset Managment purchased a new position in Live Nation Entertainment during the fourth quarter valued at approximately $259,000,000. Norges Bank purchased a new position in Live Nation Entertainment during the fourth quarter valued at approximately $255,955,000. Jericho Capital Asset Management L.P. raised its position in Live Nation Entertainment by 32.0% during the fourth quarter. Jericho Capital Asset Management L.P. now owns 3,208,082 shares of the company's stock valued at $415,447,000 after acquiring an additional 777,105 shares in the last quarter. Finally, Voloridge Investment Management LLC purchased a new position in Live Nation Entertainment during the fourth quarter valued at approximately $88,394,000. Institutional investors and hedge funds own 74.52% of the company's stock.

Insider Buying and Selling at Live Nation Entertainment

In other news, Director Jeffrey T. Hinson sold 500 shares of the company's stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $122.95, for a total value of $61,475.00. Following the transaction, the director now owns 52,624 shares of the company's stock, valued at $6,470,120.80. This represents a 0.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Brian Capo sold 5,066 shares of the company's stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $123.24, for a total value of $624,333.84. Following the completion of the transaction, the chief accounting officer now directly owns 10,549 shares in the company, valued at approximately $1,300,058.76. This trade represents a 32.44% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 40,374 shares of company stock worth $5,815,812 in the last three months. 2.72% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on LYV shares. Rosenblatt Securities reduced their price target on Live Nation Entertainment from $174.00 to $170.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. The Goldman Sachs Group lifted their price target on Live Nation Entertainment from $148.00 to $166.00 and gave the company a "buy" rating in a research report on Thursday, February 13th. Benchmark reiterated a "buy" rating and set a $178.00 price target on shares of Live Nation Entertainment in a research report on Tuesday, April 1st. Macquarie boosted their price objective on Live Nation Entertainment from $146.00 to $165.00 and gave the company an "outperform" rating in a research report on Thursday, March 6th. Finally, Sanford C. Bernstein started coverage on Live Nation Entertainment in a research report on Wednesday. They issued an "outperform" rating and a $185.00 price objective for the company. One investment analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $163.50.

Live Nation Entertainment Price Performance

Shares of Live Nation Entertainment stock traded up $3.77 on Thursday, hitting $143.94. 5,002,739 shares of the company were exchanged, compared to its average volume of 2,312,197. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.10. The company has a 50-day moving average price of $134.29 and a 200 day moving average price of $135.58. The stock has a market capitalization of $33.36 billion, a price-to-earnings ratio of 52.92, a price-to-earnings-growth ratio of 1.81 and a beta of 1.44. Live Nation Entertainment, Inc. has a 1-year low of $86.81 and a 1-year high of $157.75.

Live Nation Entertainment (NYSE:LYV - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.29). The company had revenue of $3.38 billion during the quarter, compared to analysts' expectations of $3.63 billion. Live Nation Entertainment had a net margin of 3.90% and a return on equity of 139.09%. The firm's quarterly revenue was down 11.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.60 earnings per share. As a group, sell-side analysts predict that Live Nation Entertainment, Inc. will post 2.38 earnings per share for the current fiscal year.

Live Nation Entertainment Profile

Live Nation Entertainment, Inc operates as a live entertainment company worldwide. It operates through Concerts, Ticketing, and Sponsorship & Advertising segments. The Concerts segment promotes live music events in its owned or operated venues, and in rented third-party venues. This segment operates and manages music venues; produces music festivals; creates and streams associated content; and offers management and other services to artists.